September 22, 2009
If you want out of the rat race, you have to create residual or passive income. What you will quickly learn about rat race income (i.e. a job), is that it’s very important to have it, and keep it, until you don’t need it.
Some people think that residual income is more important so they let their rat race, or job income go too soon. They fail to continue on their rat race or job income, then they get upside down and they realize that they are in a terrible position. Therefore, you must realize that rat race income is important.
What other kind of incomes are there? Residual income or passive income. If you’re trying to get out of the rat race income, you don’t want to go with the least effective passive income. If you’re trying to get out of the rat race income, you hope that you’re putting your money into the most aggressive, the smartest, the most residual, the highest ROI residual income that you can get into.
Some people make the mistake of trying to put money in a savings account because they realize that it’s one type of passive income that they can create. Let me tell you, it’s nothing like the passive or residual income of having an organization that produces $400,000 in premium every single month. That is true residual, that is true passive, that is the machine with wings, that is the machine that can fly. That is the residual income that not only gets to the point where you’re making 150,000 a year, 600,000 a year, but it maintains itself and can even go up given the proper motivation and stimulation that you can put into
So, what is most important?
It depends on the timing of the situation. You need someone to help you determine the timing of putting money into residual income or putting time and effort into cash flow/rat race/job income.